PRESS RELEASE

Public consultation on tax reform ends

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The Government received about 2,400 written submissions from organisations and individuals during the nine-month public consultation on tax reform which ended on March 31.

The purpose of the consultation was to discuss with the public the challenges faced by Hong Kong's tax system, in particular the adequacy of the present tax base in providing a stable source of income to meet the future needs of the community, and to collect views on whether there is a need and, if so, what is the best option to broaden the tax base.

During the consultation period, government representatives met different sectors, including major political parties, chambers of commerce and related professional and community organisations, to explain the contents of the consultation document and to listen to their views on tax reform. Government representatives also attended about 350 meetings and seminars, including meetings with the Legislative Council and the 18 District Councils, and regional forums organised by the Government in various parts of Hong Kong.

The Financial Services and the Treasury Bureau is now collating and analysing all the views collected and will prepare a final report on the public consultation. The report, which is expected to be completed by the end of June, will be submitted to the Government of the next term for consideration.

Ends/Monday, April 2, 2007
Issued at HKT 16:15

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